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Binance launches $ 1 billion fund to develop BSC

Binance launches

Binance launches $1 billion fund to develop Binance Smart Chain

Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a $1 billion fund to develop and support the Binance Smart Chain ecosystem. The fund will be divided into four programs:

  • talent development ($100 million),
  • stimulating liquidity ($100 million),
  • incentives for developers ($300 million),
  • investment program ($500 million), which will be aimed at supporting startups.

After the exchange announced the launch of a new fund, the exchange rate of the internal token of the Binance Coin trading platform increased by 9%. At the time of this writing, the altcoin is trading at $430, and its capitalization is $72.5 billion.

According to a report by DappRadar, in the third quarter of this year, activity on the Binance Smart Chain network grew by 20%.

Recall that in August 2021, the BitXmi crypto exchange launched the BXMI NFT Marketplace, where you can buy gold, silver, diamonds, and arts with zero fees.

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